Missing words on new $1 coins mystify Mint

Missing words on new $1 coins mystify Mint
Wed Mar 7, 5:59 PM ET

WASHINGTON (Reuters) - In God We Trust. In machines? Not so much.

An unknown number of new U.S. $1 coins bearing the image of George Washington are missing the words "In God We Trust" and other lettering along the edges, the U.S. Mint said on Wednesday.

The Mint released more than 300 million gold-colored, George Washington $1 coins last month, but it recently discovered a problem. The coins, made by the Philadelphia Mint, were supposed to have the inscriptions "In God We Trust," "E Pluribus Unum," the date and the mint mark around the edge.

It is unclear how the mistake occurred or how many of the coins are in circulation, according to the Mint statement. The Mint said it would make necessary technical adjustments in the manufacturing to eliminate the defect. "The United States Mint understands the importance of the inscriptions 'In God We Trust' and 'E Pluribus Unum' as well as the mint mark and year on U.S. coinage. We take this matter seriously," the statement said.

"We also consider quality control a high priority. We are looking into the matter to determine a possible cause in the manufacturing process."

Robert Hoge, curator of North American coins and currency for the American Numismatic Society, said that collectors find coins with a mistake like this, known as a Mint error, desirable when a relatively small number are in circulation. "Since it was an accident, there is no count of how many were created. That's always the question with a mint error and it's difficult to tell how many there might be," he said.

On the auction Web site eBay, one of the coins sold for $405.

One of the most famous Mint errors in the United States occurred in 1922. That year, "through carelessness or overzealousness," Hoge said, a defective dye for the obverse, or head, side of the 1-cent piece failed to show the "D" mark indicating it was struck at the Denver Mint. One of those coins in mint condition would fetch upwards of $10,000, Hoge said.

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Some coins lack 'In God We Trust'
By JOANN LOVIGLIO, Associated Press Writer
Wed Mar 7, 12:36 PM ET

PHILADELPHIA - An unknown number of new George Washington dollar coins were mistakenly struck without their edge inscriptions, including "In God We Trust," and made it past inspectors and into circulation, the U.S. Mint said Wednesday.

The properly struck dollar coins, bearing the likeness of George Washington, are inscribed along the edge with "In God We Trust," "E Pluribus Unum" and the year and mint mark. They went into circulation Feb. 15.

The mint struck 300 million of the coins, which are golden in color and slightly larger and thicker than a quarter.

About half were made in Philadelphia and the rest in Denver. So far the mint has only received reports of error coins coming from Philadelphia, mint spokeswoman Becky Bailey said.

Bailey said it was unknown how many coins didn't have the inscriptions. Ron Guth, president of Professional Coin Grading Service, one of the world's largest coin authentication companies, said he believes that at least 50,000 error coins were put in circulation. "The first one sold for $600 before everyone knew how common they actually were," he said. "They're going for around $40 to $60 on eBay now, and they'll probably settle in the $50 range."

Production of the presidential dollar entails a "new, complex, high-volume manufacturing system" that the mint will adjust to eliminate any future defects, the mint said in a statement. "We take this matter seriously. We also consider quality control a high priority. The agency is looking into the matter to determine a possible cause in the manufacturing process," the statement said.

The coin's design has already spurred e-mail conspiracy theories claiming that the religious motto was purposely omitted from the Washington dollars. That rumor may have started because the edge lettering cannot be seen in head-on photographs of the coins.

The Washington dollars are the first in a series of presidential coins slated to run until 2016. After Washington, the presidents to be honored on dollar coins this year will be John Adams, Thomas Jefferson and James Madison.

Bailey said the striking of the Adams coin, expected to roll out in mid-May, will proceed as planned. "We are adjusting the manufacturing process to try to eliminate the problems," she said.

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On the Net:

U.S. Mint: http://www.usmint.gov

Professional Coin Grading Service: http://www.pcgs.com